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Goodwill And Intangible Assets | 9 Months Ended
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Sep. 30, 2023
Goodwill And Intangible Assets |
Goodwill And Intangible Assets | NOTE 4. GOODWILL AND INTANGIBLE ASSETS Goodwill The following table summarizes the balances in goodwill by segment: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Outdoor |  | Precision Sport |  | Adventure |  | Total
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Goodwill | ​ | $ | 29,507 | ​ | $ | 26,715 | ​ | $ | 88,349 | ​ | $ | 144,571
Accumulated goodwill impairment losses | ​ | ​ | (29,507) | ​ | ​ | — | ​ | ​ | (52,071) | ​ | ​ | (81,578)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at December 31, 2022 | ​ | ​ | — | ​ | ​ | 26,715 | ​ | ​ | 36,278 | ​ | ​ | 62,993
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Impact of foreign currency exchange rates | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (1,098) | ​ | ​ | (1,098)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at September 30, 2023 | ​ | $ | — | ​ | $ | 26,715 | ​ | $ | 35,180 | ​ | $ | 61,895
​ Indefinite-Lived Intangible Assets The following table summarizes the changes in indefinite-lived intangible assets: ​
​ | ​ | ​ | ​
Balance at December 31, 2022 |  | $ | 82,901
​ | ​ | ​ | ​
Impact of foreign currency exchange rates | ​ | ​ | (1,965)
​ | ​ | ​ | ​
Balance at September 30, 2023 | ​ | $ | 80,936
​ Trademarks classified as indefinite-lived intangible assets by brand as of September 30, 2023 and December 31, 2022, were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, 2023 |  | December 31, 2022
Black Diamond | ​ | $ | 19,600 | ​ | $ | 19,600
PIEPS | ​ | ​ | 2,951 | ​ | ​ | 2,986
Sierra | ​ | ​ | 18,900 | ​ | ​ | 18,900
Barnes | ​ | ​ | 5,600 | ​ | ​ | 5,600
Rhino-Rack | ​ | ​ | 24,356 | ​ | ​ | 25,744
MAXTRAX | ​ | ​ | 9,529 | ​ | ​ | 10,071
​ | ​ | $ | 80,936 | ​ | $ | 82,901
​ Other Intangible Assets, net The following table summarizes the changes in gross other intangible assets: ​
​ | ​ | ​ | ​
Gross balance at December 31, 2022 |  | $ | 100,889
​ | ​ | ​ | ​
Increase due to purchase of intangible assets | ​ | ​ | 500
Impact of foreign currency exchange rates | ​ | ​ | (2,976)
​ | ​ | ​ | ​
Gross balance at September 30, 2023 | ​ | $ | 98,413
​ Other intangible assets, net of amortization as of September 30, 2023 and December 31, 2022, were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2023
​ |  | Gross |  | Accumulated Amortization |  | Net |  | Weighted Average Useful Life
Intangibles subject to amortization | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Customer relationships | ​ | $ | 75,219 | ​ | $ | (40,954) | ​ | $ | 34,265 | ​ | ​ | 13.8 years
Product technologies | ​ | ​ | 20,984 | ​ | ​ | (11,281) | ​ | ​ | 9,703 | ​ | ​ | 10.1 years
Tradename / trademark | ​ | ​ | 1,263 | ​ | ​ | (926) | ​ | ​ | 337 | ​ | ​ | 9.4 years
Core technologies | ​ | ​ | 947 | ​ | ​ | (947) | ​ | ​ | — | ​ | ​ | 10.0 years
​ | ​ | $ | 98,413 | ​ | $ | (54,108) | ​ | $ | 44,305 | ​ | ​ | 12.9 years
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022
​ |  | Gross |  | Accumulated Amortization |  | Net |  | Weighted Average Useful Life
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Customer relationships | ​ | $ | 77,370 | ​ | $ | (34,653) | ​ | $ | 42,717 | ​ | ​ | 13.8 years
Product technologies | ​ | ​ | 21,309 | ​ | ​ | (9,207) | ​ | ​ | 12,102 | ​ | ​ | 10.2 years
Tradename / trademark | ​ | ​ | 1,263 | ​ | ​ | (827) | ​ | ​ | 436 | ​ | ​ | 9.4 years
Core technologies | ​ | ​ | 947 | ​ | ​ | (947) | ​ | ​ | — | ​ | ​ | 10.0 years
​ | ​ | $ | 100,889 | ​ | $ | (45,634) | ​ | $ | 55,255 | ​ | ​ | 13.0 years
​ Amortization expense for the three months ended September 30, 2023 and 2022, was $3,061 and $3,683, respectively, and for the nine months ended September 30, 2023 and 2022 was $9,560 and $11,740. Future amortization expense for other intangible assets as of September 30, 2023 is as follows: ​
​ | ​ | ​ | ​
Years Ending December 31, |  | Amortization Expense
2023 (excluding the nine months ended September 30, 2023) | ​ | $ | 3,053
2024 | ​ | ​ | 10,520
2025 | ​ | ​ | 8,548
2026 | ​ | ​ | 6,536
2027 | ​ | ​ | 4,687
2028 | ​ | ​ | 3,342
Thereafter | ​ | ​ | 7,619
​ | ​ | $ | 44,305
​

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